Independent Summary Qualified Person's Reports

Source: 3/21/2023, Location: Europe

The Board of Directors (the “Board”) of Rex International Holding Limited (the “Company” and together with its subsidiaries, the “Group”) is pleased to announce that the independent summary qualified person’s reports (“QPRs”) in respect of the Brage Field and Yme Field in Norway, have been prepared by AGR Energy Services AS (“AGR”), as part of its obligations under the Singapore Exchange Securities Trading Limited Listing Manual (“Listing Rules”) on the disclosure of its reserves and resources.

The assets are the Brage Field and the Yme Field in Norway, in which Lime Petroleum AS (“Lime”) holds 33.8434% and 10% working interests respectively.

Extracts from the independent summary QPRs of the reserves and contingent resources of the Brage Field and Yme Field, which are attributable to Lime, a subsidiary in which the Company has an indirect 91.65% interest, as per Appendix 7.5 of the Listing Rules, are provided below:

Brage Field
The QPRs have been reviewed by the independent qualified person, Mr Steinar S. Johansen, and have been prepared in accordance with the disclosure requirements in paragraph 6 of Practice Note 6.3 of the Listing Rules. Mr Steinar S. Johansen is a member of the Society of Petroleum Engineers (SPE), the European Association of Geoscientists and Engineers (EAGE), the London Petrophysical Society (LPS) and the CFA Institute.

The Board confirms that, to the best of its knowledge, nothing has come to its attention which may render information provided herein to be false or misleading in any material aspect.

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